[Rockhounds] Court Rules Fossils are Minerals
Alan Silverstein
ajs at silgro.com
Fri Nov 30 18:21:37 PST 2018
Tim wrote:
> It's probably buried somewhere in the mortgage but I was never aware
> of the issue of mineral rights on the properties I have bought...
> I assume different states all have their own rules.
Probably. Certainly in Colorado, surface and mineral rights are quite
often severed, and surface right conveyences do not include mineral
rights unless explicitly included. See for example:
https://frascona.com/new-property-purchase-are-the-mineral-rights-included/
A buyer using the Contract to Buy and Sell Real Estate, approved by
the Colorado Real Estate Commission, will notice an ALL CAPS
disclaimer pertaining to mineral ownership and oil and gas activity...
Note that mineral rights owners are allowed to unilaterally infringe
upon or disturb surface rights in order to access their underground
minerals! Typically reparation payments are made to the surface rights
owners, but I don't know if this is legally required, or might only
occur after a lawsuit for damages.
Better hope a coal company doesn't decide it's economically feasible to
strip mine under your house!
Cheers,
Alan Silverstein
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